The Provincial Treasurer’s Office (PTO) reminded that the deadline for the 10 percent discount on Real Property Tax is on March 31, 2015.

PTO Officer-In-Charge Emmanuel Guial said that the 10 percent discount is a privilege given to real property tax owners in Cebu province.

“Actually, the taxpayers can even avail of 20 percent discount if they can pay in advance. If the taxpayers will pay on December 2015 for the year 2016, they can avail 20 percent discount,” Guial said.

It is the responsibility of the PTO for the proper, efficient and effective administration of the real property tax.

Guial also reminds the taxpayers to settle their dues to avoid monthly penalties and can avail of the discount.

“To the taxpayers especially with real properties, we will be levying again delinquent real properties within this year. It’s best for you to pay as early as the first quarter for you to enjoy a discount, spare you from penalties and avoid the risk of having your property auctioned,” he said.

All real properties, whether taxable or exempt, shall be appraised at the current and fair market value prevailing in the province, in accordance with the rules and regulations.

The tax campaign encourages taxpayers to avail of the discount and avoid penalties.

Taxpayers with land holdings or legal interest can visit their respective municipalities to settle their tax dues.

ABOUT

Cebu is a province of the Philippines located in the Central Visayas (Region VII) region, and consisting of a main island and 167 surrounding islands and islets.

Cebu is one of the most developed provinces in the Philippines, with Cebu City as the main center of commerce, trade, education and industry in the Visayas. In a decade it has transformed into a global hub for shipping, furniture-making, tourism, business processing services, and heavy industry.